Krishanu Majumder (Accountant) (24 Points)
01 September 2011Dear sir,
I built my house that took time for 2 years that are F.Y. 1995-96 and 1996-97 and total cost of the house was 3.75 lac now I have sold the house in F.Y. 2010-11 for 17.30 lac. Please tell me what is may capital gain as I am confused about Cost Index because I don't know which F.Y. cost index is to be taken. Please help.
Devendra
(Chartered Accountant)
(4775 Points)
Replied 02 September 2011
Dear Krishanu,
Please find attached herewith the file for the Capital Gains Tax Calculation.
Regards,
Devendra K
Deepak Singh Rawat
(Article Assistant)
(53 Points)
Replied 02 September 2011
Sir I have a little confusion
In Your sheet CII is 385
May I know how this CII came
praveen
(Chartered Accountant)
(6971 Points)
Replied 02 September 2011
Cost of improvement should be caluclated taking the CII of both the years.
Say xxxx Rs(estimated amount spent in year 1) X CII of 1st Year
and then xxxx Rs(estimated amount spent in year 2) X CII of 2nd Year
Regards
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